Lekoil Share Discussion Threads

[shaun09] 30/1/2020 12:03

If you look at recent events in cold light of day they had two thirds of their market cap wiped off by a potential loss of a few hundred thousand on a finance deal,they then announce that 7M is shortly coming into the coffers from oil sales with a simular amount coming in 4 to 6 weeks time and the price not moved.

Someone is having a laugh somewhere and no doubt be making millions as this re-rates back up again.You couldnt make it up !

[elias jones] 30/1/2020 11:08

Funny thing is i was being quoted 3.2p for that amount at the same time so someone is being supplied on mates rates who is not retail.Interesting!

[elias jones] 30/1/2020 11:05

Cheeky mm,s walked it down and now a 500k buy ! they are trying hard to keep a lid on this IMO

[billthebank] 30/1/2020 10:41

Why would exec even consider a fund raise when otakikpo is delivering huge daily cash flow now? Why is this share only 3p What am I missing.

[shaun09] 30/1/2020 10:00

Interesting harry you could be right,fill the coffers with sale of an asset that was way in the future planning and concentrate on the money maker in hand :-)like you said they are in a very strong position.

[harry tp] 30/1/2020 09:49

Guys my thoughts on current situation,the BoD know they will be toast if they do any sort of fundraise at these levels after whats happened.More likely and i would say nailed on is they will sell off one of the long grass projects that SEPLAT were sniffing around recently.With the large revenues coming in now and about to be expanded they are actually in a very strong position.

This will be back where it was before long IMO

[shaun09] 30/1/2020 09:36

Remember this is 8000 bopd to Lek,some very nice revenues indeed :-)








Nigeria to drill seven wells, add 50,000bpd infrastructure at Otakikpo field:


Development of seven oil well and crude oil processing infrastructure that would push up the nation’s oil production by about 50,000 barrel per day has commenced at the Otakikpo marginal field in Oil Mining Lease (OML) eleven, which is located at Ikuru town, Rivers state.

Coming on the heels of the Field Development Plan (FDP) and Environmental Impact Assessment (EIA) approval granted by the Department of Petroleum Resources (DPR) the development is under the second phase of the field, which is being operated by Green Energy International Limited, (GEIL).

The Company and its technical partner, LEKOIL Oil and Gas Investments may have taken advantage of the Niger Delta dry season window to start the land reclamation exercise for its onshore terminal, flow station, and well sites.


For the full year 2019, production from Otakikpo averaged 5,305 bopd gross with 2,122 bopd net to LOGL (full year 2018: 5,345 bopd gross with 2,138 bopd net to LOGL). For the first twenty (20) days of this year, production at Otakikpo has averaged 5,860 bopd gross with 2,344 bopd net to LOGL.

“Otakikpo continues to provide steady production and cashflow for LEKOIL. We are delighted with the collaborative progress being made by all parties towards the development and transformation project planned for Otakikpo, that is aimed at increasing production from the field. We remain fully focused to generate value on this asset for all shareholders,” Lekan Akinyanmi, LEKOIL’s CEO, commented.

With the construction of 1.3 million barrels capacity onshore terminal, GEIL’s Director of Corporate Affairs, Olusegun Ilori disclosed that critical long-lead items for well construction have also been identified and ordered to meet the project 2020 drilling campaign timelines.

“It is expected that the first piece of the development will, in the short-term, increase production to up to 12,000 bopd using ullage on existing infrastructure while the long-term will see Otakikpo production of up to 20,000 bopd and opportunities to aggregate production from other producers,” Ilori said in a statement.

The oil firm would also conclude installation of a 17 Kilometer export pipeline connecting the terminal to an offshore loading system.

The field development was sanctioned in July 2019 with the signing of a Memorandum of Understanding (MoU), with a consortium of international firms, valued at $350million. The Consortium is expected to form multidisciplinary project management teams from LEKOIL and GEIL.

Chief Executive Officer, GEIL, Prof. Anthony Adegbulugbe reiterated the significance of continued collaborative efforts between the JV Partners that would be instrumental in obtaining the required financing to increase production at the site.

“This marks a major step forward for us and our partner, LEKOIL to fully develop the Otakikpo field, we are happy to see our asset moving forward into full development stage and generate significant cashflow,” he said.

[elias jones] 30/1/2020 09:24

They quoted me 3.31p for 550k of shares,big bounce coming i think and seller out

[shaun09] 30/1/2020 09:18

Harry i agree whay you said about the broker mate

[shaun09] 30/1/2020 09:15

This could go mental today IMO would not be suprised to see it top of leaderboard at close

[ih_676530] 30/1/2020 09:15

I think the seller is out, nothing available under 3.10p

[harry tp] 30/1/2020 09:13

Sam,i asked him if it was his tweet and he confirmed yes,i have also sent another reply and waiting response.Does look genuine as he well connected in the industry and the region :-) will let you know anything i get back further from him.

[sam_] 30/1/2020 09:06

From lse:

"MMs have been manipulating the BID/ASK since the opening. These buys gone through within the last 5 minutes :

09:02:00 3.06 230,000 £7,038
08:59:32 3.022 70,000 £2,115
08:59:15 3.03 50,000 £1,515
08:59:15 3.02 68,790 £2,077
08:59:09 3.02 120,838 £3,649
08:58:21 3.02 24,999 £754.97
08:57:44 3.02 150,000 £4,530
08:57:17 2.935 54,777 £1,608

On NEX :

30/01/2020 08:56 300,000 3.017
30/01/2020 08:53 32,694 3.025
30/01/2020 08:27 25,000 2.989

Someone been loading non stop since the opening!"

[elias jones] 30/1/2020 09:04

Level 2 is very lively think some huge buys gone through not showing yet.

[shaun09] 30/1/2020 09:00

This going to gap up big time soon IMO

[shaun09] 30/1/2020 08:59

300K buy put through nex market the mm,s are playing games here,news is afoot !

[harry tp] 30/1/2020 08:55

Also been thinking about the role of Lek,s own broker and advisor in recent events,they will surely want to help rectify this quick before too may eyes fall on them IMO

[sam_] 30/1/2020 08:54

Good morning Harry, do you mind sharing with us the email from last night?

Thanks!

[harry tp] 30/1/2020 08:48

Morning all,i think we could have some rather big news close by now,lek have many options open to them that most small oilers do not have.Have added !

[shaun09] 30/1/2020 08:38

From late yesterday :-)some big things going on awaiting news






Nigeria to drill seven wells, add 50,000bpd infrastructure at Otakikpo field:


Development of seven oil well and crude oil processing infrastructure that would push up the nation’s oil production by about 50,000 barrel per day has commenced at the Otakikpo marginal field in Oil Mining Lease (OML) eleven, which is located at Ikuru town, Rivers state.

Coming on the heels of the Field Development Plan (FDP) and Environmental Impact Assessment (EIA) approval granted by the Department of Petroleum Resources (DPR) the development is under the second phase of the field, which is being operated by Green Energy International Limited, (GEIL).

The Company and its technical partner, LEKOIL Oil and Gas Investments may have taken advantage of the Niger Delta dry season window to start the land reclamation exercise for its onshore terminal, flow station, and well sites.


For the full year 2019, production from Otakikpo averaged 5,305 bopd gross with 2,122 bopd net to LOGL (full year 2018: 5,345 bopd gross with 2,138 bopd net to LOGL). For the first twenty (20) days of this year, production at Otakikpo has averaged 5,860 bopd gross with 2,344 bopd net to LOGL.

“Otakikpo continues to provide steady production and cashflow for LEKOIL. We are delighted with the collaborative progress being made by all parties towards the development and transformation project planned for Otakikpo, that is aimed at increasing production from the field. We remain fully focused to generate value on this asset for all shareholders,” Lekan Akinyanmi, LEKOIL’s CEO, commented.

With the construction of 1.3 million barrels capacity onshore terminal, GEIL’s Director of Corporate Affairs, Olusegun Ilori disclosed that critical long-lead items for well construction have also been identified and ordered to meet the project 2020 drilling campaign timelines.

“It is expected that the first piece of the development will, in the short-term, increase production to up to 12,000 bopd using ullage on existing infrastructure while the long-term will see Otakikpo production of up to 20,000 bopd and opportunities to aggregate production from other producers,” Ilori said in a statement.

The oil firm would also conclude installation of a 17 Kilometer export pipeline connecting the terminal to an offshore loading system.

The field development was sanctioned in July 2019 with the signing of a Memorandum of Understanding (MoU), with a consortium of international firms, valued at $350million. The Consortium is expected to form multidisciplinary project management teams from LEKOIL and GEIL.

Chief Executive Officer, GEIL, Prof. Anthony Adegbulugbe reiterated the significance of continued collaborative efforts between the JV Partners that would be instrumental in obtaining the required financing to increase production at the site.

“This marks a major step forward for us and our partner, LEKOIL to fully develop the Otakikpo field, we are happy to see our asset moving forward into full development stage and generate significant cashflow,” he said.

[beeks of arabia] 30/1/2020 08:21

You cant short this you bozo, even if you wanted to.What planet are you on?

[computercoders] 30/1/2020 08:20

Tears for anyone shorting it at this level imo

[beeks of arabia] 30/1/2020 08:05

This will all end in tears.Watching with interest.